| Where has all my RMB gone? | |
|---|---|
| Apr 10, 2008 06:59 |   |
 | When I visited China in september the exchange rate in the UK was £1 = 15.1 RMB. I will be back again in 2 weeks time and the exchange rate is down to 12.8 today. Has it changed so much in such a short time? Could someone tell me what the rate is in China currently because I will have travellers cheques to change. |
| Apr 10, 2008 09:28 | #1 |
| Look up the currency exchange online. It will be the same. Why not just use your debit card and some cash. You get a better rate for your cash and there are little or no fees for exchanging cash at the bank of China. These are cheaper and safer options than using TC |
| Apr 10, 2008 09:45 | #2 |
| Yes Davec, just last week on 04/05/2008, we sent $1000.00 to China and my wife family got 6971.00 RMB. Exchange rate then was 6.971 x $1.00. Only one year ago, it was 7300.00 averages, and two years ago, it was 7750.00 averages. A noticeable large difference. We, my wife and I have around 1000.00 RMB we don't used last trip, I guest this babies are worth more now days, so we will use them with remarkable pleasure next august. |
| Apr 10, 2008 16:18 | #3 |
| My gal has mentioned this a number of times.... The amount that I send her has dropped 100 RMB for the same USD value in 9 months. |
| Apr 10, 2008 16:54 | #4 |
| I take it then that the RMB is becoming a very strong currency. I will have to do even more haggling when I visit. |
| Apr 10, 2008 20:33 | #5 |
| It seems that RMB appreciation is not good, at least not good for traveling :-) Now I wonder why US and EU require China to appreciate RMB faster. |
| Apr 12, 2008 01:39 | #6 |
| Dave. If you are getting 12.8 as a rate, then you are being truly taken for a ride. The rate today is 13.8, and the lowest it has ever been was 2 days ago - 13.76. Having travellers cheques are about the worst thing you can do. You are British, so why don't you have a Nationwide Flexaccount? That way you cold withdraw money from any Visa compatible ATM in the world without paying any charges, and the rate you will be given is the official one. |
| Apr 12, 2008 13:40 | #7 |
| I always like to bring some cash with me and travellers cheques are really for back up. Some of the out of the way places dont have atms. Where can I get 13.8 in UK? I have tried all the usual places. Even so I was getting much higher rate 6 months ago, even 13.8 is about 10% down. |
| Apr 13, 2008 14:36 | #8 |
| Dave - you will always get a lower rate if you use travellers cheques. They are about the worst thing you can take. As I said before - the only way you can get the official rate (today 13.7) is with a Nationwide flexaccount Visa debit card. Organise it before your next trip. 6 months ago I was getting 15.5, but the UK Pound has fallen significantly since the start of this year. Blame Gordon Brown! |
| Apr 13, 2008 15:52 | #9 |
| Its his fault for most things so it makes sense to blame him. |
| Apr 13, 2008 22:08 | #10 |
| It seems that you don't like Brown. Have he done something wrong? How about Tony Blair? |
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